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    941 E 2Nd St Los Angeles, CA 90012

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    For Lease
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    Modernized creative studios in the Arts District of Downtown Los Angeles.

    Lot size:
    0.36 Acres

    Property Features for 941 E 2Nd St

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    0.36 Acres

    Building Details

    Year built
    1907

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    Listing Contact
    Farshad Tehrani
    Source: Elliman

    Listing Agent: Farshad Tehrani

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Reimagined Creative Flex Space

    e2 Studios is a modernized creative flex space building located in the Arts District of Downtown Los Angeles. The 24,300 square foot building, originally built in 1907, has been reimagined to house creative studios. The property is situated at the corner of historic streets and is near Dash Bus service and several rail lines. Its location provides convenient access to galleries, boutiques, shops, and restaurants. The Arts District is a cultural center known for art galleries, performance spaces, and an outdoor mural collection. The area originated as an artist colony and continues to have a strong artistic spirit. The open floor plans cater to artists, architects, design professionals, advertising firms, showrooms, and other creative uses. The building was once the home of Vignes Winery, the headquarters of Southern Pacific Railroad, and a distribution warehouse for Anheuser Busch. Later, Tool & Supply Bag company, a leather goods company, occupied the building. The property, with a lot size of 15,741 square feet (0.3614 acres), offers creative synergy due to its proximity to outdoor art installations and restaurants. The location has a Walk Score of 91, indicating it is a Walker's Paradise, a Transit Score of 84, indicating excellent transit options, and a Bike Score of 55, indicating it is Bikeable.
    Location Intelligence

    Current Use by Public Records

    Guru Printers - Arts ... (Bike/Boat/Book/etc) Store Mane Fixation Hair Salon Villains Tattoo Collective Tattoo & Piercing Shop Fancy Studio (Bike/Boat/Book/etc) Store ArtWork Studios, Inc (Bike/Boat/Book/etc) Store

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Skin Care Clinic Daycare Center Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Summit Event Catering, Holy Quiche!, City Kitchen, Chef Michelle and Company, Chubby Fingers Catering Co

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.2337524
    Latitude
    34.0472736

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    FAQs

    What type of property is this?
    Flex space - Modernized creative studios in the Arts District of Downtown Los Angeles.
    Where is this flex space located?
    The property is located at 941 E 2Nd St Los Angeles, CA.
    What are key features of this property?
    This property features: - Located in the Arts District, recognized as the safest neighborhood in DTLA; - Easy commuting with Dash Bus service and several rail lines nearby; - Reimagined and modernized creative flex space with abundant natural lighting and open floor plans
    Request Owner's contact information
    941 E 2Nd St Los Angeles, CA 90012
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    941 E 2Nd St Los Angeles, CA 90012
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